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Canada sheds 88,000 Jobs in January

- The Canadian economy shed 88,000 jobs in January, data from Statistics Canada showed on Friday.

Economists had forecast a decline of 2,000 jobs.

The unemployment rate rose to 5.9%, above the consensus forecast of 5.8%.

With regard to the quality of the employment, Canada created 49,000 full time jobs, but destroyed 137,000 part time jobs in January.

Finally, the participation rate dropped to 65.5% in January, from the prior 65.8%.

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